Finance and Investment Should be Mandated in all Curriculum

Reader's Pick

The recent economic crisis has focused a spotlight on the need for financial decision-making in times when the economy is uncertain. Our school education system failed at preparing students for financial crises in adulthood. Successful professionals who have worked successfully in their chosen path with skills have no idea how finance and investments work. The reason behind this is personal finance is not a part of our curriculum in school or college.

Now as the economy begins to recover and coming back on track, it is important to improve financial literacy. Well, there is no specific age to start learning but educators should start teaching basic financial knowledge to students as soon as they feel the kid is ready. Research also shows that children who learn to manage finance at a younger age will be able to handle it better as adults. A strong mindset and good financial habits are crucial for everyone and they can be taught from an early age.

There is a need of having basic personal financial skills so that one can live a happy, secure, and healthy life, as every step a person takes is directly or indirectly connected to the fact of how well one can manage money. It cannot be learned overnight; experience and habits are really important and one can start with basics by making a budget regarding spending and savings. Hance early exposure to financial affairs along with proper guidance is crucial.

- Advertisement -

There is an urgent need to include Financial management and Investment in the curriculum because:

You need to manage it at the level of your life: From graduation to retirement every step related to investment is going to directly or indirectly affect our lifestyle. Finance plays an important role in deciding our career, getting married, buying a house, and many other life events. Finance is a part of our everyday life from what we eat to how we live. At our young age, we lack the experience and knowledge to make these decisions whether big or small.

Lack of financial knowledge has painful consequences: Wrong decisions can be painful at the end of our working life and we can only regret the kind of financial decisions we made. It can be stressful for adults. Lack of savings or funds can cause a lot of hardship in one’s life and can create many other problems.

Proper financial management leads to a healthier life: According to a survey, half of the millennials feel their financial illiteracy is holding them back from making proper financial decisions. It is becoming a speed breaker in utilizing their full potential.

It is the need of the hour to teach personal finance in schools: Many adults feel students should be taught in schools about financial management. It is a good age where they start with basics and can expand their horizon in the field of financial management.

- Advertisement -

It is where they can learn: School is the place where we learn about many lessons of our life and it is the best place to learn about personal finance.

Thus for inculcating the habit of savings, improving financial literacy, and making children responsible, financial education is necessary, it helps them to keep a check on spending.

- Advertisement -
Prakash Chhabra
Prakash Chhabra
Prakash Chhabra, Executive Director - Sanskriti University.

Latest News

Promoted Links

Related Stories

Bank of Japan keeps monetary policy steady, brings new forward guidance on rates

The Bank of Japan kept its monetary policy steady on Thursday but introduced new...

Employees union seeks FIR against Jet Airways boss Naresh Goyal, Vinay Dube and on SBI Chairman

The employee union of Jet Airways, which is facing its worst crisis, Friday sought...

Japan approves 26 trillion yen as economic stimulus package to combat overseas risks

Japan's cabinet approved an economic stimulus package worth 26 trillion yen ($239 billion) with...

Samsung Electronics asks its shareholders to use electronic voting for upcoming AGM

Technology giant Samsung Electronics has adopted electronic voting for the first time ever for...

Rahul Gandhi hits on RCEP says, ‘Make in India’ has become ‘Buy from China’

Asserting that "Make in India" has become "Buy from China," Congress leader Rahul Gandhi...

1Win App: Review India Apk for Android and iOS

The company 1Win has been successfully operating in the markets of many countries around...

Key Challenges that lie ahead for the Cyber security industry

The global pandemic triggered a need for digitization. While this has many advantages, it...

Jack Dorsey may not appear before Indian parliamentary Panel on 25 February

Twitter CEO Jack Dorsey will not appear before the Parliamentary panel on IT on...

An interview with Sajeev Nair, Founder of Vieroots Wellness Solutions

Speaking to the TechGraph, Sajeev Nair, Founder & Chairman, Vieroots Wellness Solutions said, "As...

How Ginesys retail ERP Software Can Solve 7 Common Manufacturing Problems

The retail industry is undergoing a massive transformation. Customers nowadays prefer shopping through multiple...

Top Ways To Keep Your Business Running Smooth

When it comes to the management of a company, it is almost unavoidable that...

In conversation with Paramdeep Singh Anand, CEO of FieldAssist

Today we speak to Paramdeep Singh Anand, CEO of FieldAssist to understand how FieldAssist...

Beginners Guide to Web3, Blockchain & Crypto Jobs

Web3, blockchain, and crypto have become comprehensive terms and have captured the world's attention...

Top 20 Google Slide Templates for Less than $20

Google Slides is a free presentation software accessible on any device through a browser....